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Condominiums, while having a slow start in St Louis, have gained in popularity over the last few years. This is due, in part, aging baby boomers that are becoming "empty nesters" and looking to down size as well as find housing that requires less maintenance and upkeep on their part. The younger population is embracing condominium ownership as well perhaps because of the more "carefree" lifestyle it offers.
Buying a condominium is however quite different than buying a home and prudent due diligence is required to look into the financial strength of the condominium association to assess the possibility of being hit with a special assessment after buying as well as confirm that financing is readily available for the building or development. Many condo's today have limited, sometimes almost no, financing resources available due to either too many investor-owned units or a financially weak, or under-insured, condominium association. Our brokers and agents have decades of experience in this area and are ready to help you, please Contact Us, and we'll be happy to help.
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